The Dodd Frank Whistleblower Law was put in place to help current or former employees of corporations which have engaged in securities laws violations. In many cases, whistleblowers work for the corporation that was responsible for committing securities fraud. After all, this is just basic logic: employees have access to information that is internal to the company and is rarely available to others. They have the best view of what goes on “behind closed doors.”
One thing that whistleblowers should know is that the person’s job title or positions within the company doesn’t matter. The Dodd Frank Whistleblower Law was put in place to allow employees who have access to inside information on possible securities fraud to come forward and provide it to the SEC. A whistleblower that is represented by an attorney can remain anonymous and even low ranking employees have provided some very useful information regarding securities fraud. The SEC Whistleblower Law also allows spouses or ex-spouses of employees working for corporations where securities fraud is taking place to become whistleblowers and receive cash rewards.
A concern that many potential whistleblowers have is that they will face retaliation from their employer if they provide information about alleged securities fraud. However, with the Dodd Frank Whistleblower Law, this isn’t really something to worry about. When you work with an attorney, you can remain anonymous until you receive a cash reward. Also, the law that was put in place to protect whistleblowers provides serious remedies should there be any form of retaliation against you. You may file a lawsuit against your employer if you’ve faced retaliation, allowing you to get double the amount of your back salary, plus your fees for legal representation as well as other costs. A company that has terminated an employee for whistleblowing is obligated to rehire that person.
Even is you’ve been directly involved in the securities fraud, you may still be eligible for a cash reward if you provide information to the SEC, as long as you haven’t been convicted of any criminal conduct related to the fraud. As a whistleblower, you can consult with an experienced attorney, and get information on the consequences of being involved in securities fraud, as well as receive representation before the SEC.